THUNDER BAY, ON, Sept. 14 /CNW/ - MetalCORP Limited (MTC: TSXV)
("MetalCORP") is pleased to announce that it granted 1,030,000 incentive stock
options to its directors, officers and consultants today. The options, which
are priced at $1.43, have a five-year term and will vest one-third
immediately, one-third in twelve months and one-third in twenty-four months.
These options have been priced at market value as of the end of trading
Thursday September 13, 2007. Of the 1,030,000 stock options, an aggregate of
770,000 stock options were granted to insiders of MetalCORP.
MetalCORP is a mineral exploration company based in Thunder Bay, Ontario
with base metal and gold projects in the Canadian Shield of Northern Ontario,
Canada, one of the most prolific mineral districts in the world. The projects,
with an area of more than 65,000 acres, include the Big Lake
copper-zinc-silver-gold property, the North Rock copper-nickel-platinum
property, the new Python nickel-copper-zinc property and the new Fearless
zinc-copper-gold property, all of which are under active exploration.
MetalCORP's four gold projects, with a claim area of more than 20,000 acres,
include the Dorset, Pickle Lake, Black Bear and Keezhik Lake properties. By
identifying early stage properties that may be enhanced by exploration,
MetalCORP's experienced management team has assembled a great portfolio of
MetalCORP has 44,216,636 common shares outstanding and approximately
$11,500,000 in cash and no debt.
The statements used in this Press Release may contain forward-looking
statements that may involve a number of risks and uncertainties. Actual events
or results could differ materially from the Company's forward-looking
statements and expectations. The TSX Venture Exchange does not accept
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: Mr. Aubrey Eveleigh, P.Geo, COO & VP
Exploration, Tel (807) 346-2760; or Dan Courtney, Director of Investor
Relations, (807) 346-2767